Mexicoâs Mining Fiscal Regime: H2 2014

The mining industry is governed by several governing bodies, of which the Ministry of Economy is the apex body involved in the functioning of the other governing bodies. The Mining Law (Ley Minera) of 1992 is the main governing law regulating the Mexican mining industry.

The Fideicomiso de Fomento Minero (FIFOMI) was formed as a part of the Ministry of Economy works to strengthen and integrate the mining industry and its activities, providing financial and technical services to mining companies, promoting the development of the countrys mining industry.

The General Mining Coordination develops and monitors the policies, strategies and actions of the federal government aimed at promoting competitiveness and investment in the mining sector.

The General Mining Promotion promotes the competitiveness of the national mining and encourages domestic and foreign investment in the sector.

The Mining Law (Ley Minera) regulates the countrys mining industry. The law outlines certain obligations that miners are required to meet.